Home Gaming 3 Ways NFTS Are Changing the Gaming Industry

3 Ways NFTS Are Changing the Gaming Industry

Source: pexels.com

By now you have probably heard a lot about NFTs since they have been the talk of the town for months. The next big thing in the world of IT and finance is here and everyone thinks that it is in a way the second coming of cryptocurrency. While an average crypto is quite different than an NFT, there are some parallels to be drawn here. They are both virtual and both can be collected, exchanged, bought, and sold.

However, their uses are different and they do not seem to interest the same people. Many are skeptical, more so than in the case of cryptocurrencies when they first appeared, but it seems that NFTs are here to stay. What is more, they have managed to find their way into many other established and well-known industries.

A Rapidly Growing Craze

Source: pexels.com

Celebrities and companies jumped aboard and there are now numerous non-fungible tokens (NFTs) with their likeness to be collected by the fans. This is often the case with new technologies and valuable commodities, be it physical and digital. Everyone wants in while things are fresh and exciting. The only thing we have to see is how long the craze will last and whether these tokens will lose their value. In the meantime, it is important to know what they are and where they can be found. Therefore, in this article, we talk about one industry that has adopted them more than the rest, the gaming industry.

Gaming and NFTs

Video games have never shied away from progress and new technologies. On the contrary, they are among the first to always try to find new ways to appeal to the masses.

The same happened with NFTs. An NFT, which stands for non-fungible token, is a unique example of a digital art piece that cannot be replaced with something else. For example, bitcoins are fungible because you can trade one for another. There is only one of every NFT which makes them valuable collectors’ items. They are similar the most to highly sought after trading cards like sports cards than they are to cryptos. So why does this matter for gaming? Let’s find out.

1. Decentralization of Games

Source: pexels.com

NFTs come along with the famous blockchain technology, already quite popular among the common folk due to the success of cryptos. This means that gaming, just like finances, can be decentralized. Such an environment would shift the control of the games into the hands of the players instead of the companies, just how with cryptos the users are the ones controlling the market and not the banks or governments.

This would allow the players to transfer the things they find or win during gameplay with each other, in-game, easier and with more privacy than it is being done today. This blockchain or decentralized gaming could very well be the future of exchanging rare virtual items, not just as art but as valuable and useful tools that makes the players stronger.

2. In-Game Collections

Source: pexels.com

Almost all games have some sort of collecting in them. It usually comes in the form of skins for the characters and weapons, but it is also concept art and special equipment that either has a purpose or serves a cosmetic function. Collectibles have always been a part of the gaming industry. The developers put them in for the players to have another thing to do other than completing the main story.

So why not use what NFTs brought to the table and make this art more meaningful?Instead of just collecting the same thing, each player can now find their own unique prizes and loot and then save it outside of the game. The video game industry is exactly what NFTs need to make it big because of the sheer amount of choices and practices that are already in place.

3. NFT Games

Source: pinterest.com

The most obvious way how the whole NFT movement has changed the gaming industry is through the introduction of NFT games. They are exactly what their name implies, video games in which you can collect different non-fungible tokens and then trade them. The games are all about collecting as many unique stuff as possible and not much else. It is the simplest thing that can exist that combines these two industries together.

Other, ‘bigger’ games are only going to use NFTs as a single feature and have them become a part of the system. These games, on the other hand, exist in order for the people to collect different things, exchange them, and grow the community. It is a whole new way of playing games and having fun, one where you can also earn a lot of money if you are careful and if you go in with a plan. If you want to learn more about these games, make sure to check out nftgamesandroid.net.